Burger King India IPO subscribed over 156 instances on remaining day of share sale

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Burger King India IPO subscribed over 156 instances on remaining day of share sale

Traders appear to have totally savoured the Burger King India IPO, with the share sale getting subscribed an enormous 156.65 instances on the final day of the provide on Friday. The preliminary public providing (IPO) acquired bids for 11,66,93,73,500 shares as in opposition to 7,44,91,524 shares on provide, in line with NSE replace.

The portion meant for certified institutional consumers (QIBs) was subscribed 86.64 instances, non-institutional traders 354.11 instances and retail particular person traders (RIIs) 68.15 instances.

The preliminary share sale bought oversubscribed inside a number of hours of opening for subscription on Wednesday.

The Rs 810-crore IPO included a recent situation of shares price Rs 450 crore.

Promoter entity QSR Asia Pte Ltd bought as much as 6 crore shares by way of the IPO. On the higher finish of the worth band, the sale fetched Rs 360 crore.

Value vary for the provide was mounted at Rs 59-60 per share. Burger King India had on December 1 raised Rs 364.5 crore from anchor traders.

Kotak Mahindra Capital Firm, CLSA India, Edelweiss Monetary Providers, and JM Monetary have been the managers to the provide.

Burger King India is among the many top-Three most-subscribed IPO this 12 months together with Happiest Minds Applied sciences and Mazagon Dock Shipbuilders.

At the moment, the fast service restaurant (QSR) chain operates 268 shops in India and out of them, eight are franchises, primarily positioned at airports, whereas the remainder are owned by the corporate.

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